Cross Rapids Capital: Buy Box & Recent Acquisitions

At a glance

EBITDA range	Up to $30M S2
Check size	$30M to $100M S2
Deal types	Platform, Add-on S2
Geography	North America S2
Sectors	Distribution, Construction Services

What Cross Rapids Capital buys

Cross Rapids Capital is a New York private equity firm founded in 2020 by investors who previously worked at Centerbridge Partners, Carlyle and Advent. It buys lower middle market industrial and services companies in North America with EBITDA under $30 million, putting $30 million to $100 million of equity into each deal. It will do straight buyouts, buy-and-builds, carve-outs from larger companies, small take-privates, turnarounds, restructurings and structured equity. Its target list runs from building products, food processing and transportation to construction, distribution, equipment rental, waste and environmental work, home and facility services, and testing and inspection.

It holds five companies: a Florida impact window and door installer, a Northeast school furniture and equipment dealer, food distributors in Texas and the Upper Midwest, and an industrial maintenance business carved out of Worley. A smaller company is most likely to fit as an add-on, as Sarasota Glass & Mirror did for All Glass & Windows and as Formosa Foods and H&R Foods did for PAK Quality Foods.

Recent deals

Announced in the 24 months before October 28, 2026.

Date	Company	Type	Sector	Source
Mar 2026	NickersonGrowth equity recapitalization of a Bay Shore, New York dealer and installer of school and institutional furniture and equipment; Chicago Capital Partners exited	Platform	Distribution	Source
Feb 2026	Sarasota Glass & MirrorSarasota glass and impact window company founded in 1974 added to All Glass & Windows; its owner stays to lead the brand	Add-on	Construction Services	Source
Dec 2025	H&R FoodsEmployee-owned Amarillo, Texas food distributor added to PAK Quality Foods; its leaders keep running the business	Add-on	Distribution	Source
Jul 2025	Formosa FoodsFamily-owned Dallas food distributor added to PAK Quality Foods; the owners stay on and reinvested in PAK	Add-on	Distribution	Source
Mar 2025	All Glass & WindowsRecapitalization of a Sarasota, Florida impact window and door dealer and installer run by its co-founders; Prospect Partners exited	Platform	Construction Services	Source

Portfolio by sector

From the firm's portfolio page S3.

Building products and distribution

All Glass & Windows

Facility services

CAM Industrial Solutions

Food distribution and temperature-controlled supply chain services

PAK Quality Foods

Food processing and distribution

WPS Fresh

Specialty products distribution

Nickerson

Greymont’s take

How Cross Rapids Capital fits a seller

Cross Rapids fits two kinds of owners. The first runs an industrial or services company big enough to take $30 million or more of equity, often after an earlier private equity owner: All Glass & Windows and Nickerson both came from other sponsors, while PAK Quality Foods was a recapitalization of a founder-built distributor. The second owns a smaller business that can join one of its five platforms. In recent add-ons the sellers stayed: the owner of Sarasota Glass & Mirror became a vice president of All Glass, and the Formosa Foods owners kept running their company and bought into PAK.

The firm works from an operating playbook it calls RS&A and has a partner who runs portfolio operations, so owners should expect hands-on changes to pricing, sales and supply chain. Ask who will lead that work, how much equity the owner is expected to roll, and how long Cross Rapids plans to hold.

Questions owners ask

What size companies does Cross Rapids Capital invest in?

Lower middle market industrial and services companies with EBITDA under $30 million, with an equity investment of $30 million to $100 million per deal. Smaller businesses have joined its platforms as add-ons, such as Sarasota Glass & Mirror in February 2026.

Does Cross Rapids buy window and door companies?

Yes. It recapitalized All Glass & Windows, a Florida impact window and door dealer and installer, in March 2025, and All Glass bought Sarasota Glass & Mirror in February 2026. All Glass says it is looking for more impact window companies to acquire.

Does Cross Rapids do corporate carve-outs?

Yes. Carve-outs are one of its listed deal types, and CAM Industrial Solutions was formed to buy Worley's North American maintenance and turnaround business, a purchase that closed in May 2023.

Do sellers stay on after joining a Cross Rapids company?

In its recent add-ons they have. The owner of Sarasota Glass & Mirror became a vice president at All Glass & Windows, and the H&R Foods and Formosa Foods leaders kept running their businesses under PAK Quality Foods.

Sources

S1Cross Rapids Capital home page Accessed October 28, 2026
S2Cross Rapids Capital: Criteria Accessed October 28, 2026
S3Cross Rapids Capital: Portfolio Accessed October 28, 2026
S4Cross Rapids Capital: Team Accessed October 28, 2026
S5Cross Rapids Capital: Approach (RS&A) Accessed October 28, 2026
S6Cross Rapids Capital: News Accessed October 28, 2026
S7Nickerson Recapitalizes for Growth with Cross Rapids Capital (March 24, 2026) Accessed October 28, 2026
S8Sarasota Glass & Mirror Joins All Glass & Windows (February 12, 2026) Accessed October 28, 2026
S9PAK Quality Foods Has Acquired H&R Foods (December 18, 2025) Accessed October 28, 2026
S10PAK Quality Foods Has Acquired Formosa Foods (July 21, 2025) Accessed October 28, 2026
S11All Glass & Windows Completes a Significant Equity Investment from Cross Rapids Capital (March 26, 2025) Accessed October 28, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Cross Rapids Capital. Figures are as reported on the dates shown and may have changed. Request a correction